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August 20, 2017

Top 5 Reasons to Get Chase Sapphire Preferred

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Do you like to travel? You need the Chase Sapphire Preferred card. Find out why this must-have credit card is worth the annual fee.

Is Chase Sapphire Preferred Worth It?

Chase Sapphire Preferred
Apply for Chase Sapphire Preferred Card
With all of the hype around the Chase Sapphire Reserve, the Sapphire Preferred tends not to get as much attention. There are plenty of reasons to get excited about the Reserve. But the Preferred can still hold its own among travel credit cards.

Here are our top 5 reasons you should consider getting the Chase Sapphire Preferred:

1. The Bonus Points

Chase Sapphire Preferred Bonus: The Preferred offers a competitive sign-up bonus. You can earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 in travel when you redeem through Chase Ultimate Rewards®.

That might sound like a lot of money to shell out in 3 months.

But it just takes a little bit of planning to get yourself up to that $4,000 mark.

Once you do, it's well worth it. Ultimate Rewards points are more flexible than most. You have the option to redeem them for cash back, gift cards, or travel - which brings us to our second point.

2. Flexible Points Redemption

© CreditDonkey

One of card's highlights: you can transfer your Ultimate Rewards points to any of Chase's airline or hotel partners. That includes United MileagePlus, British Airways, Virgin Atlantic Flying Club, Hyatt, IHG, Marriott, and more.

Whereas similar cards, like the Capital One Venture, let you redeem points for travel statement credit at 1 cent per mile, the Chase Sapphire Preferred will let you transfer points at a 1:1 ratio to one of its partners, creating the potential for way more value.

Tip: To put that in perspective, if you transferred 50,000 Ultimate Rewards points to Air France, for example, that would cover a round-trip award ticket from Houston to Paris, France.

That's not the only reason those points are flexible; you can also redeem your UR points for cash back (at 1 cent per point) or redeem them for travel through Ultimate Rewards (at 1.25 cents per point value).

3. Travel and Dining Points

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With the Preferred, you'll get 2x points on travel and dining at restaurants worldwide and 1x points on all other purchases. Chase's broad definitions of "dining" and "travel" make this a big draw for frequent travelers.

Even if you don't travel that frequently, you'll likely accumulate those 2x points. Here are some purchases you might be surprised to hear are included in the travel and dining categories:

  • Airbnb stays
  • Taxi and Uber rides
  • Street parking and parking garages
  • Highway tolls
  • Travel booked through discount sites
  • Tour packages
  • Cafés
  • Some bars

Another selling point for travelers - although this one has to be expected of a travel credit card - is that the Preferred has no foreign transaction fees.

4. The Travel Perks

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The Preferred offers a long list of perks for travelers, from roadside assistance to travel accident insurance. Here are the highlights:

  • Primary collision & damage coverage on most rental cars
  • Trip cancellation & interruption insurance
  • Baggage delay insurance
  • Lost luggage reimbursement
  • Trip delay reimbursement
  • Roadside assistance
  • Travel and emergency assistance
  • Travel accident insurance

If you book a flight, bus, train, or cruise on your Preferred card and it ends up being delayed over 12 hours (or long enough to require an overnight stay), your card will cover you for eligible essentials like hotel stays and meals. If you get to your destination on time but your bag is delayed, this policy will cover you for those missing essentials as well.

If your trip is canceled, you'll be covered for the prepaid, nonrefundable eligible travel expenses - prepaid tours, for example. Anyone who's ever had to try to get a refund from an airline agent will likely get some peace of mind from this policy.

The Preferred's primary collision and damage coverage is also a money-saver for eligible car rentals. The coverage is included when you pay for your car rental in full, and you'll be able to decline the rental company's add-on collision and damage waiver.

5. Pooling Your Points

 Chase Sapphire Preferred CardChase Freedom Unlimited
 Apply NowApply Now
 

Chase Sapphire Preferred® Card

Chase Freedom Unlimited®

 

Summary

 
  • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®
  • Chase Sapphire Preferred® named a 'Best Travel Credit Card' by MONEY® Magazine, 2016-2017
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • No foreign transaction fees
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 50,000 points are worth $625 toward travel
  • No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards
  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 16.74-25.49%. Balance transfer fee is 5% of the amount transferred, $5 minimum
  • Unlimited 1.5% cash back on every purchase - it's automatic
  • Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening
  • No minimum to redeem for cash back
  • Cash Back rewards do not expire as long as your account is open
  • Free credit score, updated weekly with Credit Journey℠
  • No annual fee
 

Interest Rates and Fees

Introductory APR for PurchasesN/A0% introductory APR for 15 months
Introductory APR for Balance TransfersN/A0% introductory APR for 15 months
Purchase APR17.74% to 24.74% Variable based on your creditworthiness and other factors16.74% to 25.49% Variable based on your creditworthiness and other factors
Balance Transfers APR17.74% to 24.74% Variable based on your creditworthiness and other factors16.74% to 25.49% Variable based on your creditworthiness and other factors
Foreign Transaction Fee$03% of each transaction in U.S. dollars
Annual Fee$0 Intro Annual Fee for the First Year, then $95$0 annual fee
 

Benefits and Features

Introductory Bonus Cash Back Introductory Bonus Cash Back: Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening.
Introductory Bonus Reward PointsIntroductory Bonus Reward Points: Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards® 
Cash Back Rewards Cash Back Rewards: Unlimited 1.5% cash back on every purchase - it's automatic!
Travel RewardsTravel Rewards: 2X points on travel and dining at restaurants & 1 point per dollar spent on all other purchases worldwide.
1:1 point transfer to leading airline and hotel loyalty programs
 
Airline Transfer PartnersAirline Transfer Partners: Chase airline transfer partners include United Airlines, Southwest Airlines, JetBlue, British Airways, Air France, Singapore Airlines, Virgin Atlantic, Iberia, and Aer Lingus. 
 Apply NowApply Now

If you already hold an Ultimate Rewards card with Chase - that would include the Chase Freedom, Freedom Unlimited, Ink Cash, or Ink Preferred - you can combine all of your Ultimate Rewards points under the Sapphire Preferred.

Those same points, when combined under a Preferred account, will bring in 1.25 cents per point value when redeemed for travel through Ultimate Rewards. Another option: transfer them to an airline or hotel partner at a 1:1 ratio.

The Preferred offers cash back redemption as well - although I'm not sure why you would opt for that route, as opposed to transferring your points to one of Chase's partners.

This option just adds to the Preferred's flexibility - you can even combine points with your spouse's Ultimate Rewards card.

Check out our list of the 23 best ways to use Chase Ultimate Rewards. See how far your points will get you when you redeem them for travel.

The Bottom Line

© CreditDonkey

If you're in the market for a new travel credit card, the Preferred is a solid option. It is one of the best Chase credit card for travel. Even if you can't combine your points from a previous Chase card, the Preferred's high sign-up bonus, 2x points on travel and dining, and transfer program with airline and hotel partners makes it highly competitive with other, similar travel cards.

Thinking of applying for the Sapphire Preferred? Read our Chase Sapphire Preferred review for more info on the card's perks.

Chase Sapphire Preferred Card
Apply for Chase Sapphire Preferred Card
At Chase's Secure Site
Intro APR for PurchasesIntro APR for Balance TransferRegular APRAnnual Fee
N/AN/A
17.74% - 24.74% Variable
$0 Intro for the First Year, then $95

Next Step: View the issuer's official application, terms, and details

Editorial Note: This content is not provided by Chase. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Chase. This site may be compensated through the Advertiser's affiliate programs.

Disclaimer: This content was first published on August 20, 2017. Information including APR, terms and benefits may vary, be out of date, or not applicable to you. Information is provided without warranty. Please check Chase website for updated information.

Disclaimer: The information for the Chase Freedom and Ink Business Cash Credit Card has been collected independently by CreditDonkey. The card details on this page have not been reviewed or provided by the card issuer.

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Chase Sapphire Preferred Card
Apply for Chase Sapphire Preferred Card
At Chase's Secure Site
  • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®
  • Chase Sapphire Preferred® named a 'Best Travel Credit Card' by MONEY® Magazine, 2016-2017
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • No foreign transaction fees
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 50,000 points are worth $625 toward travel
  • No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards
  • Go to issuer's official application, terms, and details
Intro APR for PurchasesIntro APR for Balance TransferRegular APRAnnual Fee
N/AN/A
17.74% - 24.74% Variable
$0 Intro for the First Year, then $95

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